What is Health Reimbursement Arrangement (HRA) in HRM?

Learn Health Reimbursement Arrangement (HRA) definition in hrm with explanation to study “What is Health Reimbursement Arrangement (HRA)”. Study health reimbursement arrangement (hra) explanation with HRM terms to review HRM course for online MBA programs.

Health Reimbursement Arrangement (HRA) Definition

  • Health plan in which the employer sets aside money in a health reimbursement account to help employees pay for qualified medical expenses.

    Human Resource Management by Robert L. Mathis, John H. Jackson



Health Reimbursement Arrangement (HRA) Explanation

A well being repayment game plan (HRA) is a business supported arrangement that repays workers for qualified restorative costs and, now and again, protection premiums. Businesses are permitted to guarantee a duty finding for the repayments they make through these arrangements, and repayment dollars gotten by representatives are by and large tax exempt. A wellbeing repayment course of action is an arrangement set up by a business to cover therapeutic costs for its representatives. The business chooses the amount it will place into the arrangement, and the representative can demand repayment for real therapeutic costs acquired up to that sum. All workers in a similar class must get the equivalent HRA commitment. A HRA isn't a record. Workers can't pull back assets ahead of time and afterward use them to pay medicinal costs. Rather, they should cause the cost first, at that point have it repaid. Repayment at the hour of administration is conceivable if the business gives a HRA platinum card.

Keep Learning HRM Explanations

What is Recency Effect?

The recency impact is the propensity to recollect the most as of late displayed data best. For instance, on the ...

What is Succession Planning?

Succession planning is a system for passing on influential positions regularly the responsibility for organization to a representative or gathering ...

What is Human Capital?

Human capital is the load of propensities, learning, social and character qualities (counting inventiveness) epitomized in the capacity to perform ...

What is Return on Investment (ROI)?

Return on investment (ROI) is a proportion between net benefit (over a period) and cost of speculation (coming about because ...

What is Task?

An assignment is a movement that should be practiced inside a characterized time frame or by a due date to ...

What is Massed Practice?

Massed Practice alludes to conditions in which people practice an assignment ceaselessly without rest. Separated Practice alludes to conditions in ...